Is it permissible to combine two usurious loans into one with a lower interest rate and faster installments, or is that considered another forbidden usurious contract?

The transaction intended to settle the two previous loans, if it is usurious and forbidden, then it is not permissible. The intention of combining the two installments into one does not legitimize entering into a new usurious transaction. However, if there is an Islamic bank or an entity that conducts a legitimate financing transaction to obtain funds to repay the two usurious loans and be rid of them, there is no harm in that.